Greece, Germany and Save Yourself Anarchy

May 19, 2010

"Save Yourself Anarchy" in the EU

And for even harsher talk about the German move, consider this from Frank Ahrens at the Washington Post:

"The problem is the way Germany did it: on its own, and out of nowhere and with no cooperation so far from its eurozone allies. It really ticked off the French, which, admittedly, is not that hard to do.

But Wall Street traders don't care about hurt feelings in Paris. What they care about is that it's starting to look like the 16-nation eurozone is falling into a save-yourself anarchy, which not only creates economic uncertainty, it could lead to civil unrest. Europe is the biggest buyer of U.S. exports and the U.S. recovery depends on trade. If Europe cannot be counted on anymore, then you'll see the the U.S. stock market tumble further. And a European collapse could send the U.S. into a double-dip recession."

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May 19, 2010

"Save Yourself Anarchy" in the EU

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